train has left the station, page-26

Agree Loki,

The thing that all investors are looking for when a developer turns miner, is can they deliver on the costs and production schedules outlined in the DFS. If RED can keep costs low and can show it will be on target for the 75K ounces.

The March qtrly will only give a sneak peak at how the commisioning process is going, but the June qtrly will be the one that could make the SP head north, as we should have a full qtr of full production.

I have done some conservative calcs, that would see the EPS of about .44cps (I have a dividend payment in my calcs) giving the company a PE ratio of approx 5. Now I have seen many say a 10* PE ratio apply, but I would apply a lesser rate due to the company having a higher PE due to the 4 year tax holiday. Basically I would like to see the share price around the $3.50 mark if the company can prove the calcs in the DFS to be true.

Oz